A 401(k) is a retirement savings plan that employers can offer their employees as a benefit, allowing workers to contribute a certain untaxed portion of their paycheck through salary deferral to a managed retirement plan. As one of the top 401(k) companies in the region, Dowd will work with you on the design and operation of your group or corporate retirement plan.

Importance of a Competitive 401(k)

Over the past few decades, 401(k) plans have grown increasingly popular, replacing traditional pension plans to shift the responsibility and risk of saving to the employees. In today’s competitive business environment, having a solid 401(k) retirement plan can help set your business apart to attract and retain top talent at your company. Employers can contribute to employee plans as an incentive—often as a percentage of an employee’s salary or an amount matching every dollar the employee contributes.

401(k) Plan for Business Services

With a business-oriented approach, we help develop plans that reduce administrative burdens and costs, coordinate with other retirement plans, increase employee participation rates and address non-discrimination testing risks. You also benefit from our seasoned counsel on plan fiduciary considerations, including 401(k) fee issues and the maintenance of company stock funds.

Guideline 401(k) Options for Small Businesses

You don’t have to be a Fortune 500 company to offer a 401(k) plan. If you own or manage a growing small business, you may wish to offer a competitive retirement plan to help attract skilled workers. We understand that if this is your first foray into the world of retirement plan management, you are likely to have a lot of questions. Let our experts help you sort through the small business 401(k) options available.

Nonqualified Deferred Compensation Agreement (NQDC)

Also referred to as a nonqualified deferred compensation plan, this agreement allows an employee to earn wages, bonuses or other compensation in one year but receive the earnings in a later year. The purpose of an NQDC is to allow your top executives and corporate directors the ability to defer payments until such a time when they are in a lower tax bracket, after reaching retirement age, for example. During such time as payments are deferred, our experts can advise on investment strategies to benefit your organization.